Emerging Technology Insider
The Germany-based LIDAR technology company, Blickfield, increases funding target to $31 million
LiDAR Technology Firm Blickfeld Announces Extension of Series A Funding to $31m
New investment supports the development of new products and internationalization of business
Blickfeld, the Munich-based start-up developing breakthrough high performance and mass-producible LiDAR (Light Detection and Ranging) sensing technology, announces the extension of the company’s Series A funding to $31 million. New Future Capital (NFC), a private equity firm that provides growth capital primarily in Asia, North America, and Europe, was won as a new investor. Furthermore, all existing investors participated in the round including Bayern Kapital, Continental, Fluxunit – ams OSRAM Ventures, High-Tech Gründerfonds, Tengelmann Ventures, and UVC Partners.
The extension of financing comes at a time of significant growth for Blickfeld´s business, as well as its expansion into new markets. The company plans further development of sensors and software which continue to revolutionize the reliable capturing and utilization of 3D data.
Founded by Dr. Mathias Müller, Dr. sc. Florian Petit and Rolf Wojtech in 2017, Blickfeld develops and produces LiDAR (Light Detection and Ranging) sensors and perception software. The solutions provide high-resolution three-dimensional environmental information enabling countless groundbreaking applications, spanning from autonomous transportation and mobility, through to smart cities, industrial use, and security.
Since the last funding, Blickfeld has already taken significant steps forward in launching products to market, including the series production launch of its versatile 3D-LiDAR sensors, Cube 1 and Cube Range 1, for multiple industrial applications. Furthermore, the company executed multiple large-scale rollout projects, such as passenger flow detection at airports and volume measurement of bulk material in product warehouses.
In addition to the company’s current resellers in 13 countries, including Germany, Canada, China, and Japan, the new financing round will support the opening of offices in the US and Asia and therefore promote Blickfeld´s international foothold. The new offices will be dedicated to expanding Blickfeld´s network of integrators thus making products accessible in applications worldwide faster and in larger quantities, serving the growing demand in the US and Asia as key markets. Alongside growth into new markets, the number of employees will rise significantly with a focus on the sales team.
Early in 2022, Blickfeld will add to its product range with new breakthrough perception software technology with features including object detection, classification, tracking, and counting. Fields of application for this new product include industry, smart traffic, security, unmanned aerial vehicles, and people analytics. The latter signals a significant opportunity for the global application of Blickfeld technology, by providing crucial data on congestion, crowd management, wait times, and more - whilst maintaining the privacy of members of the public.
Dr. Mathias Müller, co-founder and CEO of Blickfeld, comments, “The additional funding in this round of investment signals the continued confidence our investors hold in our vision to capture and analyze the world with a comprehensive solution. We are proud to say that our solutions are now being utilized by businesses and organizations across the globe! Now we are accelerating on our journey of internationalization and strive to further diversify our unique product range through this funding. Our new investor NFC´s strong network in Asia and the US will be of great value for Blickfeld to gain a firm foothold in the US and Asia quickly and substantially.”
Jörg Strauß, Senior Vice President & General Manager Business Line Visualization & Laser at ams OSRAM states: “As a long-term partner, we have been supporting Blickfeld from the beginning. Combining their proprietary MEMS technology with our industry leading 905 nm Edge Emitting Laser components, Blickfeld’s sensors show the capabilities of scanning LiDAR technology in real-world use cases and in industrial scale. We are looking forward to accompany their growth path in the future."
Tiffany Luo, CEO at New Future Capital shares, “We are delighted to be supporting Blickfeld during this exciting period of growth. The opportunities ahead for the business and its technology in providing groundbreaking new perspectives for major industries across the globe are inspiring. We look forward to bringing in our expertise and broad network in the US and Asia and being a part of the company’s successes as it enters new markets and continues to demonstrate its market potential.”
For more information, please visit www.blickfeld.com